New Hampshire Bridge Loans
New Hampshire has 38 hard money lenders issuing loans in the state. In this state, the mean loan amount is $325,072. Rates for private loans average about 11.3%. The average term offered for notes is 19 months. The average origination fee for loans is 2.6 points. 72% is the mean loan to value offered for for loans in New Hampshire.
Loan Example 1
Eric is a real estate investor in Keene, NH. He discovers an older property and decides to renovate it and flip it for a profit. The house has a cost of $240,000 but he does not have the full amount so he takes a bridge loan with South End Investment Group. As the lender sets a 75% loan-to-value, Eric will need to put 25% down and the total amount of the note will be $180,000. The deal also has the following features: 1) a 6 month length, 2) a 12% interest-only note, and 3) a one point origination fee.
Therefore, Eric will have to make a $60,000 down payment plus pay a $1,800 origination fee. he will then pay $1,800 monthly to South End Investment Group. Eric's intention is to finish the renovation by the end of the 6 months and resell it for $288,000. If he succeeds he will earn a total profit of $35,400 ($288,000 sales price - $180,000 principle amount - $60,000 cash paid at closing - $1,800 origination points - $10,800 in total interest payments.
Loan Example 2
Kimberley takes a private money bridge loan from Rising Sun Lending Company so she can renovate a house to re-sell in Salem, NH. The loan has the following parameters:
a) A $330,000 purchase price, b) a 80% loan to value (LTV), c) a 18 month term, d) a 10% interest rate, and e) a 2% origination fee.
If Kimberley achieves her goal of a $429,000 sales price, the final numbers of the project would be as follows:
$429,000 sales price
- $264,000 principle on note (80% LTV)
- $66,000 down payment (20% on 80% LTV)
- $5,280 origination points (2% of the $264,000 principle amount)
- $39,600 interest payments (18 months x 10% interest)
-----------------------
= $54,120 gross profit (does not include taxes or rehab costs)
With more than $12.3B in funded loans, Kiavi is one of the nation’s largest private lenders to residential real estate investors!
Offering Fix and Flip, Bridge, and DSCR loans. With same day approvals, 3-5 day close time, and lending in 47 states, Park Place Finance will get your next deal funded fast!
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Anchor Loans
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Harbor Private Equity
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Atlanta, GA 30309
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Stormfield Capital
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New Silver
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Gelt Financial
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LendingOne
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T&M Commercial Funding
259 Minot Ave
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Park Place Finance
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Peak Choice Capital
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Rehab Financial Group
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Rosemont, PA 19010
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Capital Three Sixty
7 Towpath Lane
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Sharestates
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Great Neck, NY 11021
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Cherrywood Commercial
20955 Pathfinder Road, Suite 370
Diamnond Bar, CA 91765
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132 Lincoln Street, Suite 6L
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Green Knight Funding
600 Loring Avenue, Suite 5
Salem, MA 01907
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Buy Now Hard Money
440 Middlesex Road, Suite 234
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The Grossman Companies
ONE ADAMS PLACE 859 WILLARD STREET, SUITE 501
Quincy, MA 02169
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PO Box 221
Weare, NH 03281
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Raymond C Green Companies
155 Federal Street, Suite 1300
Boston, MA 02110
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Pro Builder Financial
396 Washington Street, Suite 225
Wellesley, MA 02481
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Island View Private Loan Fund
2139 Chuckwagon Road, Suite 315
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Universal Capital
138 River Rd
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Northborough Capital Partners
56 Pine Street, 3rd Floor
Providence, RI 02903
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